(Newser)
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Tim Geithner sent a letter to Congress yesterday warning of the dire consequences the country will face if Republicans don’t raise the debt ceiling before the US hits it—and newly minted Budget Committee Chairman Paul Ryan conceded that he was right. “Will the debt ceiling have to be raised? Yes,” Ryan told Reuters. But he called for spending cuts in 2012.

“The American people will not stand for such an increase unless it is accompanied by meaningful action … to cut spending,” agreed John Boehner. The US could default as early as March 31 if the debt ceiling isn’t raised, Tim Geithner estimated, which “would have catastrophic economic consequences that would last for decades.” But Politico notes one crowning irony in the administration’s push on the issue: Some senator named Barack Obama voted against raising the debt ceiling in 2006, calling an increase “a sign of leadership failure.”

LOL I say over and over Tea Partiers .... you may not like it, but welcome to liberal world where you get NOTHING you want. Oh, they'll act like you are getting something but you will get nothing ... ever. The GOP gives not one damn about you. Oh, like us you'll have one or two legislators who really do care about you. But otherwise? The government exists at the behest of the corporations. You are a slave just like us. the only difference is that the Dems at least gave us a few months before they told us to bend over.

red_ox

Jan 7, 2011 2:15 PM CST

Conservative dimwits are strangely absent from this story's discussion boards. I wonder why?

red_ox

Jan 7, 2011 2:14 PM CST

[Some senator named Barack Obama voted against raising the debt ceiling in 2006, calling an increase “a sign of leadership failure.”] It seems like fate does have a sense of humor...